US authorities search Perrigo's offices as part of drug-pricing probe

Perrigo disclosed that search warrants were executed at its corporate offices as part of an ongoing investigation by the US Department of Justice Antitrust Division related to generic-drug pricing. The drugmaker said it "is taking this investigation seriously and is cooperating with the appropriate authorities."

The Antitrust Division has been looking at industry-wide pricing practices, with several companies receiving subpoenas seeking information about drug pricing and communications with competitors, including Endo International and Mylan. Meanwhile, Teva has also received a number of subpoenas, with one related to its Actavis unit, which was acquired from Allergan last year.

The disclosure from Perrigo comes after the company said last month that it intends to restate financial results dating back to December 28, 2013 to reflect new accounting for the rights it owned to the royalty stream from the multiple sclerosis drug Tysabri.